Caldera Resources Inc.: Ellendale East Diamond Project-Western Australia

Business Wire, Feb 27, 2006

Critical Factors for Diamond Potential in the Ellendale East Lamproite Field

1. Well defined aeromagnetic anomalies: the Caldera leases at Ellendale East contain a number of discrete low-level aeromagnetic anomalies whose shape and areal extent are strikingly similar to the shape and areal extent of the presently mined diamond bearing lamproites of Ellendale 4 and Ellendale 9 some 25kms to the northeast.

2. Presence of volcanoclastic tuffs: six anomalies tested to date contain substantial thicknesses of volcanoclastic quartz tuff. Preliminary testing of drill chips has located fragments of diamonds in two of these anomalies. It is expected that with proper bulk sampling techniques that all the anomalies containing volcanoclastic quartz tuff will prove positive.

3. Appropriate structural control: detailed low-level aeromagnetic maps of the Caldera leases and the surrounding environment indicate a precise and systematic control of the emplacement of lamproites in the East Ellendale Field. This control is identical to that found further to the northeast in the Ellendale Diamond Field proper. It is clearly evident from aeromagnetic data that the emplacement mechanism involving the injection of the lamproitic magma which has produced the largest and richest primary deposits is controlled by these two lineaments.

4. Diamond associated chromian spinels: all the anomalies tested to date contain chromian spinels whose compositions indicate that they are in equilibrium with diamond. These chromian spinels are strikingly similar to those recovered from the Ellendale 4 and Ellendale 9 diamond mines.

5. Province of known diamond bearing lamproites: over 100 lamproite pipes have been discovered in the Ellendale Diamond Field. A number of these are successfully producing some extraordinarily beautiful gem quality diamonds from mines owned and operated by Kimberley Diamond Company NL. Caldera has discovered an additional seven aeromagnetic anomalies that contain volcanoclastic quartz tuff and diamond indicator minerals, two of these anomalies also contain diamonds. Caldera's work has established the southern portion of the Ellendale Diamond Field as a potential diamond bearing entity in its own right.

Cusip:1287D 105

Canada

Suite 3100
40 King Street West
Toronto. Ontario. M5H 3Y2
Telephone:     416-865-6605
Facsimile:     416-865-6636
Website: www.calderares.com

Australia

1 Charles Street
Suite 8
South Perth. Western Australia. 6151
Telephone:         011-618-9367-7728
Facsimile:         011-618-9367-7705
E-mail:       calderares@bigpond.com

Caldera Resources Inc. (TSX:CDR)